This transcript has been automatically generated and may not be 100% accurate.

I ... the ... Tesla Motors released second-quarter results after the close ... by Amgen Jelter MarketWatch ... here's the bottom was ... so slow lost sixty two million dollars last quarter ... however ... if we exclude such things as stock based compensation ... and on cash interest expenses ... the company at a profit ... of sixteen million dollars ... or eleven cents a share ... and that's almost three times more than the four cents a share Wall Street expected ... Tesla Skyway adding a second assembly line at its plant in Fremont California ... doesn't make it possible to produce the new model X crossover ... alongside its existing one lesson ... the company claims that with the extra capacity that can churn out a thousand cars a week ... and hit thirty five thousand vehicles ... for the foreigner ... and if all goes according to plan the company said its annual production rate should jump to one hundred thousand cars ... by the end of twenty fifteen ... in those targets depends of course on enough batteries in that span a costly problem ... Tesla to give big step toward solving that problem it signed a formal agreement with its partner Panasonic to build the Tesla gigafactory ... a five billion dollar plan that will need to slow the world's biggest producer of lithium ion batteries ... the company said it program in June on a site near Reno Nevada ... that could be where to build the plant ... but they also said they're still looking at other locations ... California ... Arizona New Mexico and Texas have all been named as possibilities so despite saying months ago that these decisions would be made by now ... they aren't ... which probably means Tesla CEO Elon Musk is holding out for better looking tax incentives ... for will almost certainly be a big job creator in the cutting edge industry ... all in all Tesla investors appeared relieved by the company's earnings but a bit underwhelmed by its business outlook ... and then briefly said Tesla shares down about two percent in after hours trade ... still ... the stock is up almost fifty